Take-Two CEO Stepping Down, Strauss Zelnick to Assume Role [Update]

[Update] A Take-Two representative has clarified to Shacknews that ZelnickMedia does not own Take-Two--as was noted in the original story--but is a "private equity firm that manages Take-Two under an agreement with the company's board of directors." The original story has been edited for accuracy.

[Original Story] Take-Two Interactive Software is shifting things around in its upper, upper management as CEO Ben Feder will be stepping down on January 1, 2011. Taking his place will be Strauss Zelnick, who will add the CEO role to his executive chairman role.

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Feder will remain a partner in ZelnickMedia, "a private equity firm that manages Take-Two under an agreement with the company's board of directors." He is stepping down to "travel in Asia with his family for an extended period." Karl Slatoff will be promoted to chief operating officer and will assist Zelnick.

Take-Two Interactive operates studios and publishing labels for 2K Games and Rockstar Games. Unless you own stock in the Take-Two Interactive, it's likely that this will not mean anything to you until some decisions about games are made.